Nepal government claims economy getting back on track

May 20, 2023

Kathmandu (Nepal), May 20 (ANI): The Government of Nepal claimed the economy is getting back on track as it unveiled the annual policies and programmes for the upcoming fiscal year 2080–81 (Nepali year). Nepal's President Ram Chandra Paudel stated on Friday, while presenting the government's policies and programmes at the joint meeting of the House of Representatives and National Assembly stated that the economy is getting back on track. Friday's plans and policies lay the foundation for the fiscal budget scheduled to be unveiled on May 29 by the Finance Minister. The government has clearly mentioned the need to strictly control revenue leakage and channel remittances through formal channels in Friday's plans and programme. The government has also announced channelling foreign assistance to big projects. President Paudel said the international aid will mainly be invested in national pride and high-priority projects. In order to effectively implement the development projects, the government plans to bring laws to facilitate land acquisition, environmental impact assessment, and procurement processes. Along with this, the Government of Nepal has decided to observe the decade of the 2080s as a tourism decade. On Friday's policies and programs, the president also announced the upcoming English year of 2025 to be observed as a "Special Tourism Year" as the cash-strapped nation relies more on the tourism sector for income.